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2020-12-31-accounts

CONTENTS PAGE
Information
Report ofthe Directors 4-15
Report ofthe Independent Auditor 16 - 19
Statement
of Financial		 Activities 20
Balance Sheet 21
Statement ofCash Flows 22
Notes to the Financial Statements 23-37

ADDRESS: Rawnsley
Centre
Main Street
Keswick
Cumbria
CA12 5NP
REGISTERED CHARITY NUMBER: 1083584
COMPANY REGISTRATION NO: 03913741
WORKING NAME: Keswick Ministries
GOVERNING DOCUMENT: Memorandum
and Articles ofAssociation
TRUSTEES: Mr SAdam, Treasurer
Dr T Chester
Mr D Gascoigne
Mr S Hale
Mrs C Heath-Whyte
Dr J McQuoid,
Chairman		 (Appointed 23 April 2020)
Rev A Paine
Mrs A Putt
Mr M Salter
Rev Dr M Sleeman
Mr JTaylor
Mrs J Whitehouse
MINISTRY DIRECTOR Rev Dr J Robson
&CEO:
COO: Mr D Sawday
COMPANY SECRETARY: Mr SOverend
AUDITOR: Mazars LLP, One St Peter's Square, Manchester, M2 3DE
ACCOUNTANTS: Robinson+
Co, Oxford Chambers,		 New Oxford Street, Workington, CA14 2LR
SOLICITORS: Anthony
Collins Solicitors LLP		 Ellis-Fermor 8 Negus Limited
134 Edmund
Street		 2 Devonshire Avenue
Birmingham Beeston, Notting ham
B32ES NG9 1DS
CHARITY OBJECTS: The Trust exists to promote Bible Teaching at an annual
Convention		 in Keswick
and on other occasions with the aim ofencouraging holy and Biblical life styles.
BANKERS: HSBC pic, 1 Market Square, Penrith CA11 7SN

Mr SAdam, Treasurer
Dr T Chester,
Mr D Gascoigne
Mrs C Heath-Whyte
Mr S Hale
Mrs E McQuoid (Resigned 23 April 2020)
Dr J McQuoid,
Chairman		 (Appointed 23 April 2020)
Mr M Salter
Rev A Paine
Mrs A Putt
Rev Dr M Sleeman
Mr JTaylor
Mrs J Whitehouse

Note Unrestricted Restricted Total 2019
Funds Funds Funds Total funds
(note 22)
Income and endowments from:
Donations
and legacies		 1,114,491 618,948 1,733,439 2,927,109
Charitable
activities		 22,279 22,279 72,128
Other trading
activities		 5,730 5,730 32,095
Investments 135,472 135,472 228,997
Rents and licence income 18,417 18,417 81,993
Other 37,741 37,741 16,388
Total 1,334,130 618,948 1,953,078 3,358,710
Expenditure
on:
Raising funds 5 73,760 104,144 177,904 178,184
Charitable
activities		 4, 5 711,071 177,443 888,514 1,712,870
Total 784,831 281,587 1,066,418 1,891,054
Net income 549,299 337,361 '886,660 1,467,656
Revaluation
ofinvestment		 property 9 157,500 157,500
Transfers
between
funds		 16 1,358,976 (1,358,976)
Net movement
in funds		 2,065,775 (1,021,615) 1,044,160 1,467,656
Reconciliation
offunds:
Total funds brought
forward		 6,356,661 2,162,404 8,519,065 7,051,409
Total funds carried forward 8,422,436 1,140,789 9,563,225 8,519,065

Note Total Total
Funds funds
2020 2019
Fixed assets E
Tangible assets 8 5,828,894 4,504,711
investments 9 2,140,220 1,982,720
Deposits 11 5,520 5,463
Total fixed assets 7,974,634 6,492,894
Current assets
Debtors 10 718,696 253,736
Cash at bank and in hand 11 2,574,016 3,340,845
Total current assets 3,292,712 3,594,581
Liabilities
Creditors: amounts falling due within one year 12 254,121 118,410
Net current assets 3,038,591 3,476,171
Total assets less current liabilities 11,013,225 9,969,065
Long Term Loans 13 1,450,000 1,450,000
Total net assets orliabilities 9,563,225 8,519,065
The funds ofthe charity:
Restricted
income funds		 15, 16,17 1,140,789 2,162,404
Unrestricted funds —Designated 16,17 7,516,394 6,034,711
Unrestricted funds —General 16,17 906,042 321,950
Total charity funds 9,563,225 8,519,065

Note 2020 2019
E E
Cash provided
by operating
activities		 21 463,597 1,423,471
Cash flows from investing activities:
Interest 26,191 23,076
Rents from investments 109,281 205,921
Purchase oftangible
fixed assets		 (1,365,841) (196,720)
Cash (used in) Iprovided by investing activities (1,230,369) 32,277
Cash flows from financing activities:
Raising of borrowing 13 150,000
Net cash flows from financing activities 150,000
(Decrease) increase
in cash		 and cash equivalents in the year (766,772) 1,605,748
Cash and cash equivalents at the beginning ofthe year 3,346,308 1,740,560
Total cash and cash equivalents at the end ofthe year 2,579,536 3,346,308

ncome
Donations and legacies: 2020 2019
Legacies 453,962 10,799
Unrestricted donations 660,529 1,089,603
Restricted donations 618,948 1,826,707
1,733,439 2,927,109
Investments: 2020f 2019
E
Interest received 26,191 23,076
Rental income 109,281 205,921
135,472 228,997

nalysis of expenditur e
on charitab		 le
activities
Activities
undertaken Support
directly costs Total
Activity E E E
Restricted funds
Missionary Hospitality Fund 250 250
Derwent Project 28,970 148,223 177,193
Unrestricted funds
Charitable activities 256,476 306,582 563,058
Other 71,174 76,839 148,013
Total 356,870 531,644 888,514

Activities
undertaken Support
directly costs Total
Activity F E
Restricted funds
Missionary Hospitality Fund 16,414 16,414
Derwent Project 92,197 154,058 246,255
Unrestricted funds
Charitable activities 910,790 334,676 1,245,466
Other 113,261 91,474 204,735
Total 1,132,662 580,208 1,712,870
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2020 2019
F
Trustees ~531 ~glLG
Ministry Director (CEO) & Business Director/COO ~11 64 ~094 6

8.
Fixed assets
Freehold
land		 Freehold
land
&buildings &buildings Equipment
&		 Assets under
Centre Rawnsley Furniture Construction Total
E E
COST
At 1 January 2020 977,427 669,935 177,414 3,496,736 5,321,512
Additions 6,865 1,358,976 1,365,841
Disposals
At 31 December 2020 977,427 669,935 184,279 4,855,712 6,687,353
DEPRECIATION
At 1 January 2020 499,250 169,647 147,904 816,801
Charge for the year 19,549 13,399 8,710 41,658
Disposals
At 31 December 2020 518,799 183,046 156,614 858,459
NET BOOK VALUE
At 31 December 2020 458,628 486,889 27,665 4,855,712 5,828,894
At 31 December 2019 478,177 500,288 29,510 3,496,736 4,504,711

vestments
Investment Quoted Unquoted
Property Investments Investments
Basis ofvaluation Fair Value Valuation Cost Total
F F F
Cost or valuation at
1 January 2020 1,980,000 2,715 5 1,982,720
Disposals at cost or
valuation
Gains on revaluation 157,500 157,500
Transfer to current
assets
Cost or Valuation at
31 December 2020 2,137,500 2,715 5 2,140,220

Wholly owned subsidiary: Wholly owned subsidiary:
Keswick Convention Projects Ltd
Keswick Convention Projects (Rawnsley) Ltd

ebtors
2020 2019
f.
Trade debtors 4,323 5,656
Payments
in advance —accommodation		 63,551 52,166
Prepayments
and accrued		 income 583,526 167,871
Amounts
owed		 by group undertakings 1,107 28,043
Other debtors 66,189
718,696 253,736
ash and cash equivalents
2020 2019
E
Cash
in hand		 511,963 804,672
Notice deposits (less than three months) 2,062,053 2,536,173
Current asset 2,574,016 3,340,845
2020 2019f
Longer term deposits 5,520 5,463
Non-current
asset		 5,520 5,463
Total cash 2,579,536 3,346,308
reditors: amounts falling due within one year
2020 2019
Trade creditors 125,674 30,540
Other creditors 539 13,600
Accruals 113,911 48,048
Deferred
income		 13,997 26,222
254,121 118,410
Deferred income relates to deposits for centre bookings and course fees falling
in the		 next financial year
Deferred
income		 has been recognised as follows:
2020 2019
E
Deferred
income brought
forward		 26,222 15,304
Released to income during the year (24,137) (15,304)
Received
during		 the year 11,912 26,222
Deferred
income carried forward		 13,997 26,222

16. Summary offund movements
Balance Income Expenditure Gain on Transfers Balance 31
1 Jan 2020 revaluation of December
investment 2020
property
Fund
Desi
nated		 Funds
Fixed Asset 5,734,711 41,658 157,500 1,365,841 7,216,394
Derwent Project
Fund 300,000 300,000
General
Funds		 321,950 1,334,130 743,173 (6,865) 906,042
Unrestricted Funds 6,356,661 1,334,130 784,831 157,500 1,358,976 8,422,436
Restricted Funds
Missionary 1,009 2,765 250 3,524
Hospitality Fund
Derwent Project 2,161,395 616,183 281,337 (1,358,976) 1,137,265
Fund
Restricted Funds 2,162,404 618,948 281,587 1,358,976 1,140,789
Total Funds 8,519,065 1,953,078 1,066,418 157,500 9,563,225

17.
Analysis of net		 assets between funds
2020 Tangible Investments 8 Net Current Long Term Total
Assets Deposits Assets/(liabilities) Concessionary
Loan
Unrestricted—
designated		 5,828,894 2,137,500 300,000 (750,000) 7,516,394
Unrestricted— 5,525 1,600,517 (700,000) 906,042
general
Total unrestricted 5,828,894 2,143,025 1,900,517 (1,450,000) 8,422,436
Missionary
Hospitality
Fund		 2,715 809 3,524
Derwent Project Fund 1,137,265 1,137,265
Total restricted 2,715 1,138,074 1,140,789
Total funds 5,828,894 2,145,740 3,038,591 (1,450,000) 9,563,225
2019 Tangible Investments Net Current Long Term Total
Assets Assets Concessionary
Loan
Unrestricted—
designated		 4,504,711 1,980,000 300,000 (750,000) 6,034,711
Unrestricted—
general		 5,468 1,016,482 (700,000) 321,950
Total unrestricted 4,504,711 1,985,468 1,316,482 (1,450,000) 6,356,661
Missionary
Hospitality
Fund		 2,715 (1,706) 1,009
Derwent Project Fund 2,161,395 2,161,395
Total restricted 2,715 2,159,689 2,162,404
Total funds 4,504,711 1,988,183 3,476,171 (1,450,000) 8,519,065

21. Reconciliatio n
ofnet		 move ment
in funds		 to net cash flow from operating
activities
2020 2019
E
Net income for the reporting period 886,660 1,467,656
Adjustments in respect of:
Depreciation charges 41,658 43,191
Interest received
Rental income		 (26,191)
(109,281)		 (23,076)
(205,921)
(Increase)/Decrease in debtors (464,960) 101,042
Increase
in		 creditors 135,711 40,579
463,597 1,423,471
22. Analysis of changes in net funds
At 1January At 31 December
2020 Cash flows 2020
E
Cash and cash equivalents 3,346,308 (766,772) 2,579,536
Debt due after one year 1,450,000 1,450,000
4,796,308 (766,722) 4,029,536

2019SOFA compar atives
Unrestricted Restricted Total
Funds Funds Funds
f F f
Income and endowments from:
Donations
and legacies		 1,100,402 1,826,707 2,927,109
Charitable
activities		 72,128 72,128
Other trading
activities		 32,095 32,095
Investments 228,997 228,997
Rents and licence income 81,993 81,993
Other 16,388 16,388
Total 1,532,003 1,826,707 3,358,710
Expenditure
on:
Raising funds 58,902 119,282 178,184
Charitable
activities		 1,450,201 262,669 1,712,870
Total 1,509,103 381,951 1,891,054
Net income 22,900 1,444,756 1,467,656
Revaluation
of investment		 property
Transfers
between		 funds 150,589 (150,589)
Net movement
in funds		 173,489 1,294,167 1,467,656
Reconciliation
offunds:
Total funds brought forward 6,183,172 868,237 7,051,409
Total funds carried forward 6,356,661 2,162,404 8,519,065